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Dena Bank expects Rs 1,260 crore capital infusion from the government, said its chairman and managing director Ashwani Kumar.
“We have asked the money (around Rs 1,260 crore) for two fiscals — 2012-13 and 2013-14. The bank is expecting at least 50 per cent during the current fiscal,” he said. Its Tier I capital as on December was around 11.47 per cent.
The Mumbai-based bank has set a target to grow by 23-24 per cent in 2013-14. It expects 25 per cent growth in credit and 22 per cent increase in advances.
“Our growth is subject to availability of the capital,” he added.
While refusing to shares any 2012-13 figures, Kumar said they had crossed Rs 1.50 lakh crore business and expected to close with a reasonable growth. Net interest margin would be under pressure during the current fiscal, he said.
On expansion, he said, the bank planned to open 150-175 branches during the current fiscal. At present, it has 1,450 branches across the country and most of them are Gujarat and Maharashtra.
